June 29, 2017
Grain Marketing Specialist
USDA QTR STOCKS AND PLANTED ACRES REPORT OUT FRIDAY AT 11 AM!
Talk to your Grain Marketing Specialist to place your target orders.
Wheat Growers is now offering a Min-Max contract! Call your local Grain Marketing Specialist for details!
Final pricing day for July HTA’s and BF contracts. Contracts need to be rolled, or priced by noon! Contact your local Wheat Growers Grain Location for assistance.
Corn: 3 higher
Weather forecasts continue to bedevil the corn market. We still are holding support at $3.55 and $3.75 for the July and December futures, respectfully. Ethanol numbers, released yesterday, showed production increased from 990,000 to 1,015,000 barrels per day. Export sales released this morning came in at 15.1 million bushels, with 12.4 in this marketing year. These numbers were lower than last week, but ahead of the 4.8 million bushels needed to keep pace the USDA projections.
Soybeans: 6 higher
Soybeans managed some gains yesterday on weaker US dollar and continue to see buying interest in the overnight session. Export sales, reported this morning, came in at 11.6 million bushels. This is keeping pace with USDA projections.
Wheat: MPLS 35 higher. KC 10 higher.
Minneapolis wheat continues to stay very strong. There seems to be no stopping it. Winter wheat still lags at a $2.60 inverse from MPLS, but at least we are seeing some positives there. Exports numbers released this morning showed 18.1 million bushels. This was ahead of the 14.5 million needed to keep pace with USDA projections.